Wellington Management Group LLP Boosts Stock Holdings in Fluence Energy, Inc. (NASDAQ:FLNC)

Wellington Management Group LLP raised its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 29.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 755,718 shares of the company's stock after purchasing an additional 171,836 shares during the period. Wellington Management Group LLP owned 0.42% of Fluence Energy worth $12,001,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Fluence Energy in the 4th quarter worth approximately $79,000. Morse Asset Management Inc purchased a new position in shares of Fluence Energy in the 3rd quarter worth approximately $175,000. Blueshift Asset Management LLC purchased a new position in shares of Fluence Energy in the 4th quarter worth approximately $176,000. KLP Kapitalforvaltning AS purchased a new position in shares of Fluence Energy in the 4th quarter worth approximately $213,000. Finally, Mezzasalma Advisors LLC purchased a new position in shares of Fluence Energy in the 4th quarter worth approximately $221,000. Hedge funds and other institutional investors own 53.16% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on FLNC shares. Baird R W downgraded shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Piper Sandler cut their price objective on shares of Fluence Energy from $20.00 to $10.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 12th. Robert W. Baird reissued a "neutral" rating and set a $20.00 target price (down previously from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. Guggenheim downgraded shares of Fluence Energy from a "buy" rating to a "sell" rating and dropped their target price for the stock from $26.00 to $6.00 in a research report on Tuesday, February 11th. Finally, Roth Capital downgraded shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Fluence Energy has an average rating of "Hold" and an average price target of $13.79.

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Fluence Energy Stock Performance

Shares of NASDAQ FLNC opened at $4.42 on Thursday. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. Fluence Energy, Inc. has a 12 month low of $3.63 and a 12 month high of $26.12. The company has a 50 day simple moving average of $6.34 and a two-hundred day simple moving average of $14.35. The stock has a market cap of $802.45 million, a price-to-earnings ratio of -88.40 and a beta of 2.48.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. As a group, analysts predict that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Insider Activity at Fluence Energy

In other news, Director Herman E. Bulls bought 30,000 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average cost of $6.53 per share, for a total transaction of $195,900.00. Following the purchase, the director now directly owns 105,861 shares in the company, valued at approximately $691,272.33. This trade represents a 39.55 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ahmed Pasha bought 15,500 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average price of $6.48 per share, with a total value of $100,440.00. Following the completion of the purchase, the chief financial officer now owns 24,703 shares in the company, valued at approximately $160,075.44. This trade represents a 168.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 79,000 shares of company stock worth $499,665 in the last three months. Company insiders own 0.65% of the company's stock.

About Fluence Energy

Fluence Energy, Inc, through its subsidiaries, offers energy storage products and solution, services, and artificial intelligence enabled software-as-a-service products for renewables and storage applications in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company sells energy storage products with integrated hardware, software, and digital intelligence.

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